The Federal Reserve's New York desk is ramping up its market operations. Over the next month—from mid-January through mid-February—it's injecting roughly $40 billion through reserve management purchases, while simultaneously rolling over $15.4 billion in agency mortgage-backed securities. This represents the Fed's ongoing effort to manage system liquidity following the end of quantitative tightening. The move signals continued accommodation in the post-QT framework, keeping money markets well-supplied. For crypto traders monitoring macro conditions, this expanded central bank purchasing activity typically supports broader risk appetite and liquidity across asset classes.